Paul Krugman has identified a financial corollary to the law that All News is Good News for Republicans. Responding to the meme that's recently appeared everywhere along the ideological spectrum from NRO to the WSJ, that a recession would provide an opportunity to push more tax cuts, Krugman has deduced that Everything that Happens is Good for Tax Cuts:
If the economy is growing, and tax receipts are rising, then it shows that past tax cuts achieved wonders, plus the Laffer curve is right — so let’s cut taxes some more!
If the economy is shrinking, well, it needs a boost — and what better boost than another round of tax cuts!
See, cutting taxes is always good. It makes you wonder why we ever had taxes in the first place.
Because if taxes didn't exist, Republicans would have to invent them.
Update: Sorry, I didn't see that Atrios did this story last night. I actually went to Krugman's blog to see if he would shoot down Ruth Marcus again on her latest Social Security op-ed. He hasn't, yet.